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is weaker against the euro. that's on similar expectations for more monetary easing pressures from the bank of japan. the euro quoted at 120.4 to 1. the euro has gained ground against the yen and the dollar. analysts say that's due to worries over with the euro zone. let's see how this is affecting tokyo stocks. share prices surging across the board. nikkei at 10,828. a gain of over 2% from thursday's close. buying was prompted by more optimistic views about the u.s. economic recovery following strong housing data. let's look at other markets open in the asia pacific. over in australia the benchmark index is trading hie ining high. positive moves so far. tokyo is leading >> on japan clearly that sort of recently announced fiscal and monetary package is intended to create growth in the short term. we don't think that if not associated with a midterm solid anchoring that would actually indicate the determination to change the debt trajectory, reduce the deficit. >> lagarde gave her view on thursday. she supported a 2% inflation target which abe asked the bank of japan to set. she said it's a
the current si markets. how is the yen trading ahead of all of this. >> the dollar/yen and the euro/yen, of course, the yen has been a primary factor in the week's rise. 44 to 66, compared it was add ri -- revised before the euro/yen. we have 1.33, comparing to the euro/yen. we may just see the nikkei and the euro/yen trading at a narrow range. >> thank you, ramin mellegard, from the tokyo stock exchange. the nikkei with a gain of one-tenth of a percent. >>> they have voted toyota camry the car of the year. domestic makers dominate the market. representatives from the japanese automaker collected the trophy for the u.s.-built sedan at a ceremony in seoul. the journalist praised the car's price competitiveness. it beat 44 models introduced last year, including vehicles by south korea's kindai. they recently began shipping cars from the u.s. to south korea. our free trade agreement between the countries have slashed terrorist. >> honda and other japanese automakers have also increased ship makers from the u.s. to south korea. south korea is continuing to buy cars for their friendly te
of the two firms say they made a dl for 150 million euros. that's over $200 million. philips officials have also spun off their television business to a joint venture with a taiwanese firm. now, funai electric plans to maintain the philips brand and expand sales to emerging economies in asia and south america. >>> one of japan's major oil wholesalers will join forces with a canadian gas firm. idemitsu-kosan announced it will build a liquefied natural gas plant in canada with altagas. executives at idemitsu said tuesday the two firms agreed to form a joint venture. the new plant will be built on the west coast of canada. they plan to start shipping 2 million tons of lng annually to japan and other countries as early as in 2017. the executives say the lng will have a price advantage as it will be produced at canadian market prices. shipping costs will be lower because of geographical closeness compared with sourcing from the middle east and the u.s. east coast. demand for lng has bn rising in japan since the nuclear accident in fukushima. that's because it's the main fuel used for thermal pow
to the euro. executive vice president added that he expects the global market situation to improve later this year. >> translator: we hope that economic measures introduced by the new administrations in japan, the u.s. and china will help fuel a recovery in consumption in the latter half the year. >> mitsubishi electric will buy out a german firm that designs and develops plant sewage treatment and waste disposal systems. the japanese electronics maker said it reached the deal with kh automation projects to acquire all its shares. my sue beneficia mitsubishi elect tricks say the deal should be completed by march. the goal is to expand the social from your business in europe. the deal will allow both firms to combine each other's products. more japanese electronics firms are boosting their operations in the social infrastructure sector to expand their foot hold in overseas markets. the focus is on waste water treatment, waste disposal, railroads and power generation. >>> now let's check on the markets. european shares are trading at a narrow range as investors are staying on the sidelines
. euro/dollar, we've traded between 1.30, 1.50, 1.32 the last couple of weeks. that's where we stand in europe. we have the latest out of asia. >>> thank you. a mixed day of trade finish asian borses. the nikkei snapped a two-day losing streak ending .7% higher. talk as the boj set to ease its monetary policy this month by boosting its asset purchase program. after a brief pause yesterday the yen weakened against the u.s. dollar again today fueling automakers and other exporter stocks. >>> elsewhere, the shanghai finished flat as investors remained cautious ahead of trade and cip data due out. reports that more property curves will be made itted to tame rising housing prices. agricultural stocks surged on expectations that beijing's urban growth plan will support food production. in hong kong, the hang seng rebounded half a percent from the lowest level in the week. mainly banks gained momentum after ubs upgraded icbc. concerns over q4 earnings sent the kospi lower by .3%. the fifth straight day of losses for south korean shares. i.t. stocks and development ralliers pushed higher .4%
markets in europe. perhaps we're seeing a special case of that in europe. >> do you expect the euro to remain weak for the rest of the year? >> i expect the eurozone crisis to remain weak. people will look carefully at special situations across europe. >> and best performer of 2013? >> it's impossible to tell. let's say the whole of the market. >> very diplomatic answer there. david simple sop, thank you very much for coming by. some hopeful signs there. straight ahead on the program, talking of hopeful signs, our next guest is at u.s. oil production not seen since the 50s. what does it mean? we'll explore that when we come back. . >>> welcome back to "worldwide exchange." these are your headlines. the bank of japan steps up its easing agenda under heavy government pressure, doubling its inflation target and promising open ended qe starting next year. >>> president obama lays out a vision for his second term in his innagul address. >>> and this is the face of the new mr. euro. earlier, we had a nine to one ratio of decliner toes advancers.inaugural. earlier, we had a nine to one rat
this morning been up to 89.35. euro/yen higher, stipulating around the 118 mark, as well. euro/dollar had big moves yesterday, posting with the spanish auction mr. draghi and the ecb coming out saying it was unanimous about no interest rate cuts whereas in the previous month there had been some discussion about that. euro/dollar, 11.3260. let's bring you up to speed with the asian trading session today as they wrap up the week. li sixuan joins us for the first time today. >> thanks, ross. japan was a clear outperformer after shinzo abe unveiled his massive stimulus plan. and the nikkei gained 1.4% today. just to put it into context, this index is up for the ninth straight week, its longest winning streak since late 1988. shares of stocks surged to nearly 5% after the operator of clothing chain unicore raised its full year guidance. but hotter than expected cpi data from china put new pressure on the shanghai deposit. there will be more curbs to taint housing prices. meanwhile, weakness in china's blue chips dropped the hang seng lower. but hsbc did lend some support after the bank said yester
in the yen's gain. this follows recent cautious remarks from cabinet ministers about a weak yen. the euro is higher against the yen. tokyo share prices are higher today. the nikkei average is at 106,872 106,872. market participants say the yen's pull back prompted investors to buy up export related issues. taking a look at other markets. south korea's kospi trading high up 1,979. in australia the benchmark is trading higher by three-fourths of a percent. the euro zone credit crisis is taking a heavy toll for passenger cars. car sales plunged to a 17 year low. new car saechles stood at 12 million units. it's the lowest since germany saw a decline of 3%. all u.s. european and japanese makers suffered declines. germany's volkswagen lost 1.6%. south korean makers were strong. kia motors saw a jump of 14%. that's the latest in business for this hour. here is a check on other markets. >>> japanese prime minister says he opposes any use. he's visiting vietnam on his first tour aboard. abe prime minister discussed territory disputes. they have disputes with china. the peace and stability in the s
on the u.s. jobs data which is due out friday. the dollar against the yen 91.02 to 04. the euro is trading at a 33 month high against the yen. that's because worries over euro debt issues are receding. looking at other markets in the asia pacific region. south korea's kospi is down 19,019 19,057. toyota motor has announced another global recall. the problem this time is defective air bags and windows. toyota says it's calling in 1.3 million cars worldwide. they include corolla compact sedans between 2001 and 2004. the lexus luxury model between 2005 and 2011 at 385,000 units. the air bags may not inflate properly in reaction to electric signals from other signals and in the lexus, the front window wipers may not be properly secured and could get stuck. toyotaays it has received reports so far of 18 incidents of the air bag defect causing injury in the united states. i'll have more updates for you next hour. i'm going to leave you with a check on markets. >>> a controversial new u.s. movie about the hunt for osama bin laden will not be shown in pakistan. distributors there say they're worri
yielding 1.5%. as far as currency markets, the euro/dollar at 1.3277. couldn't sustain it over 1.34. some comments saying the euro exchange rate is dangerously high. stepping down, as head of the euro group. they'll decide the success on january 21. dollar/yen, 87.88. and aussie dollar is over 1.0540. we'll bring you up to date with events in asia. we have more from singapore. >> sure, thank you. those asian markets finished in the red. the nikkei suffered its worst daily showing in eight months despite upbeat machinery orders data for november. a rebound in the yen fueled profit-taking in exporters. shares of al nippon airways slipped 1.6% today. and some boeing suppliers such as the battery maker gu uasa tumbled. the shanghai composite pulled back .7% after hitting a 7.5-month high yesterday. developers continued to lose ground after strong gains since q4 last year. this despite talk of delaying the property tax reform due to insufficient planning and law making. >>> in hong kong all eyes on the chief executive's maiden policy speech with a focus on measures to tackle the housing crisis
central bank will take full action in coming months. let's take a look at the euro because earlier this tokyo it hit the highest level. let's take a look at other markets in the asia pacific. the kospi is trading down at 1,998. australia is trading higher at 4,728. u.s. president barack obama says republicans have to do what he calls the right thing on raising the debt ceiling. he says if they don't the u.s. faces a federal default and confusion in financial markets. >> the republicans can act responsibly and y amica' bills or put america through another economic crisis. >> obama says raising the debt limit is necessary for the government to meet its obligations. he said he's willing to compromise on cutting the budget deficit but not in exchange for increasing the debt ceiling. the u.s. government has reached a borrowing limit set by law but republicans continue to reject an increase without spending cuts in social security and other programs. now it's not the first time the u.s. has faced such a stand off. in the summer of 2011 the government and coness mained at odds over raisin
next policy meeting. more on that in just a few minutes. but the euro's also lower against the yen. the euro/yen currently changing hands at 117.74-76. taking a look at other markets in the asia pacific region, south korea's kospi, that's trading higher. up half a percent. 1,994. let's take a look at australia. the benchmark index is up by 1/3 of a percent. 4,733. >>> well, policy makers at japan's central bank will discuss whether to take further money-boosting steps at a two-day meeting starting next week. they're apparently responding to the governments call for more powerful measures to tackle deflation and support the nation's recovery. a 2% inflation goal is expected to be included in a document to be exchanged between the bank of japan and the government. the b.o.j. policy makers are to show in writing how they plan to achieve the target requested by prime minister shinzo abe. now, it's likely to be a joint statement and not a legally binding policy accord that abe had originally sought. the aim is to maintain the central bank's independence. b.o.j. policy makers are conside
. the euro hit the 118 level for the first time in 20 months. that pair is changing hands at 118.10 to 15. market participants say worries about the debt situation in the euro zone has eased due to positive comments on the regional economy from the european central bank president. let's see how this is affecting the stock market. the weaker yen is prompting export on stocks. let's take a look at how other markets in the asia pacific are performing. south korea's kospi trading modestly in the negative down about .10 of a percent. look likes a bit of a mixed picture today. over in the united states president obama had revealed his nomination for his treasury secretary. his chief of staff jack lew is poised to replace timothy geithner. >> over the years he's built a reputation as a master of policy who can work with members of both parties. jack has my complete trust. i hope the senate will confirm him as quickly as possible. >> mr. president, i look forward to continuing the challenges ahead. >> lew is 57 years old. he's well versed in financial policy. he served as director of the office o
will consider esm bonds an important investment asset. along with other euro denominated bonds issued by major european nations. >> the government plans to use the foreign currency bonds to continue to buying esm bonds. government officials see the moreover as a way to stabilize the european economy and discourage traders from receiving the safety of the yen in case debt problems worsen. >>> unemployment in the eurozone renewed record highs for four straight months in november. the jobless rate was especially high in the countries that continue to implement austerity measures. the eu statistics office announced unemployment in the zone stood at 11.8%. up 0.1 percentage points since october and highest since the euro was introduced in 1999. within the zone, spain showed the highest rate. it rose from 26.6% in spain. many young people out of work under half of those under 25 were jobless in the month. up 0.7 points since october. in portugal, unemployment stood at 16.3%. 14.6% in ireland. for greece, latest data up only to september. the jobless rate in that month, 26%. 0.7 percentage points hig
at the dollar/yen. firmly at 90.96 to 98. we did see it touching 90 at one point. euro/yen, 122.44 to 49 as well there. the euro gaining against the yen as well. so that's going to be an interesting factor to see how that plays into today's markets as well. ai? >> what key data can we expect this week other than earnings reports? >> we're going to go through quite a few, but of course the perils due out on friday. also some manufacturing and housing data to two other key areas, which analysts will be looking at closely, the big drops numbers on friday. we'll see if we can retest that 11,000 level. ai, back to you. >> thanks a lot for that update, ramin. ramin mellegard from the tokyo stock exchange. ramin just mentioned jobs data, so let's see what's happening on the global scene this week. first on wednesday, the preliminary estimate for economic growth for september of 2012 will be released. they had released a q4 gdp from the first quarter. also the fomc will be opening up its meeting. as people around the world take measures to shore up their committees, they're looking to see what the fed w
% of those surveyed would prefer the uk to leave the euro. >> i should have said leave the european union. britain can't leave that monetary issue. we'll have plenty more on the relationship between britain and europe. for now, we can look at the relationship with markets. the euro stoxx 6700 is down about 0.4% today. not a done of differentiation. the biggest gainer, interestingly, is monti paschi. some of the airlines are struggling, too, on the back of ryan air's results. now take a look at what's happening across the bourses. we're seeing somewhat again of a trading pattern here after the last several trading sessions where it's not consistent. we'll get those up for you just as soon as we can. today, it's down pretty much across the board. the ibex shedding 0.12%. the cac 400.15% the. the xetra dax is also down 0.1%. the ftse 1100, same thing. pretty consistent story across these indexes here. it's a big week for earnings, too. in the meantime, let's take a look at the bond wall. it's been interesting, actually, to see the lack of action, lack of attention markets have been paying he
continues its weakening trend both against the dollar and the euro. right now we have dollar/yen at 88.12. the euro is at 115.444. triggers are selling the yen on speculation the bank of japan will take further monetary easing steps. >>> and that is going to wrap it up for biz tonight. let's check in now to see what's happening with the markets. ♪ >>> thousands of people waiting to go home. tons of debris waiting for disposal. vast tracks of land waiting to be restored. overcoming the challenges of japan's 2011 disaster won't be easy, but step by step people are moving forward. find out how on "the road ahead" every wednesday at 1:00 p.m. japan time right here on "newsline." >>> the people who oversee nuclear safety in japan are still finding their feet. they got to work at the nuclear regulation authority in september after the government merged two other agencies. >> reporter: he is doing a job that has not been done before. he's the new chair of a new agency. he says he's committed to making decisions based on the evidence, something he says that was hard to do before the accident
for paris cac 40 about a quarter percent higher. the dollar and euro are maintaining up ward momentum. dollar/yen is currently at 89.80. euro yen is changing hands at 119.96. the currency touched the 116 yen level at one stage during this week. the yen is facing selling pressures due to strong expectations that the bank of japan will ease credit further. >>> a japan based free phone and messaging service called line is spreading fast. company officials say the number of users topped 100 million on friday. pretty exciteed. the service via smartphones is provided by nhn a subsidiary of a south korean i.t. firm in japan. senior nh officials and employees got together at the company's headquarters on friday to celebrate the milestone. the service started in june of 2011. it took on lie 19 no, sir reach that 100 million mark. that's faster than facebook. nh officials say more than 40 million users are here in japan but the service is also very popular in south korea, taiwan and middle eastern countries. companies and public institutions are using the service for advertising and public rela
. on the currency markets, euro/dollar, the euro has been up to 30-month highs against the swiss franc. trying to crawl back some gains. dollar/yen, 88.84. today the yen is a little weaker today on japanese reports minister's saying he was regretful his comments will be misinterpreted. aussie/dollar, 1.0517. we begin to focus on what's going on in rio. let's bring you up to speed with the rest of the news out of asia. li sixuan joins us for the first time out of singapore. >> thank you, ross. asian markets finished on a difficult note. the shanghai composite lost about 1% today, extending losses for the second day after krit swiss downgraded china life. the hang seng ending lower by a touch. no curbs were introduced by the executive yesterday. taiwan's taex is down over 1% led by technology shares. tsmc shares ended a touch higher before its results of announce wantme wantments. it posted a 32% jump meeting forecasts. but the company expects q1 revenue to fall due to seasonal factors. elsewhere, the nikkei is finished just a tap higher. sharp shares jumped over 7% on the back of tv joint ventu
to improve the country's flagging economy. now, the euro's trading lower against the yen, as many players expect few moves from the european central bank. its policy makers are scheduled to meet thursday. euro/yen, 113.92-97. >>> looking at other markets in the asia pacific, south korea's kospi is trading modestly higher. 1,999 at the moment. let's take a look at australia. the benchmark index is trading higher by .4%. 4,710. >>> well, the world's largest consumer electronics show has opened in las vegas. crowds are gathering around ultra high-definition tvs. >> welcome to las vegas. >> more than 3,000 companies are showcasing their latest products at the consumer electronics show. they're shoelg off 4k tvs. the screens have four times the resolution of conventional high definition images. south korea's samsung electronics is the world's largest tv maker. people there have unveiled 85-inch and even 110-inch models. their tvs provide smooth streaming of online videos and voice-operated channel selection. sony has been selling 4k tvs since last year. the japanese electronics maker is the fi
. the euro is trading higher against the yen. let's take a look at other markets in the asia pacific. the kospi is trading lower and in australia the benchmark index is trading higher at 4,724. >>> chinese drivers are steering clear of new cars. directors reported a 5.3% drop over the previous year with less than 1.2 million units sold. toyota registered their first declining sell since entering china ten years ago. sales at honda shrank too. mazda's dropped by 12.9%. the japanese government nationalized the senkaku islands in the east china sea. china and taiwan claimed the islands and it pushed consumers to boycott products. here is a recap of markets. >>> five men appeared in in a new delhi court monday. the men have been charged with raping a 23-year-old woman on a bus. they threw her from the vehicle. she died two weeks later in the hospital. the men heard the charges without defense lawyers present. many lawyers are avoiding the case because of the scale of public outrage at the crime. the trial is expected to be closed to public and media. protesters have been demanding harsh
. the euro yen is quoted at 114.14 to 19. let's look at other markets. south korea's kospi trading lower by half a percent. the bench market index is trading lower by a quarter of a percent. asia plays an important role in the economy. starting today we'll bring you a series of interviews with business and financial leaders. we spoke with him about growth and where to expect it. >> reporter: while the global economic outlook remains uncertain, the asia region remains a bright spot. >> it will recover to some extent. compared with u.s. and europe and also compared with latin america and africa. asia would be the fastest growing economy in the world. >> reporter: in contrast the japanese economy is showing sign s of weakness. the new prime minister says one of his top priority is to pull the nation o of deflation. >> how could jap deal with it? >> i think the monetary policy always has some side effect. i understand. bank of japan not just inflation packet but mobilize and commit self to do in unlimited way. they should do anything and whatever amount. >> reporter: turning to china, many e
. the against the yen is changing at 89.74 to 75. meanwhile euro against the yen is at 119.38 to 42. mark players say all eyes are on what kind of bold measures the central bank can come up with if it's two achieve the 2% inflation market. investors expect trading to be volatile following the government and boj announcement. south korea's kospi flat pretty much. 19 1,9 1,986. we'll see where trading takes us. global unemployments on the rise. the international labor organization says the number of jobless people increased for the first time in three years as european credit woes continue to weigh on the global economy. officials announce on tuesday that nearly 200 million people worldwide were jobless in 2012. that's an increase of more than 4 million from the previous year. officials say unemployment grew not only in western countries but also in east asia and the middle east. nay say european debt problems affected emerging economies by hurting trade. youth unemployment is also on the rise. people aged 15 to 24 are counted for over a third of the tot number. officials are urging governm
market expectations. taking a look at the euro against the yen, that's quoted at 118.29-32. let's take a look at stocks now. tokyo share prices are lower. as the yen is gaining ground. the nikkei average trading at 10,651. that is a loss of a little over half a percent from tuesday's close. market sources say investors are selling many stocks but especially export-related issues, and that is due to the yen's strength as well as the fact that the b.o.j.'s measures were almost as anticipated. okay. in other asian markets we are seeing seoul regain that 2,000 level. it is up by 1/5 of a percent at the moment. taking a look at australia, the benchmark index is trading higher by a third of a percent at 4,794. >>> well, the japanese government plans to help the ship-building industry in the northeast region which was hit by the march 2011 disaster. the government plans to subsidize ship builders when they jointly build facilities such as dry docks. the subsidies will cover 2/3 of the cost. in the earthquake and ensuing tsunami 37 ship-yards along the pacific coast were severely damaged. infr
growth will reach 3.5% this year. that's up from 3.2% in 2012. the imf says the euro zone economy will recover more slowly than previously expected. the imf's growth forecast for the united states is 2%. that's as long as the country contains its fiscal crisis including the debt ceiling and fiscal growth. the imf has mained growth outlook for the japanese economy for 1.2% this year. they were warned about the risks of accumulating debt without consolidation measures. >> when the countries start with ray otio of debt to gdp, in bot cases it's much above. we vowed a clear plan for fiscal consolidation over the next five, ten years, it seems to many to be quite dangerous to increase the fiscal deficit. >> the u.s. house of representatives have agreed to raise the debt ceiling until may 18th. the bill will prevent the government from defaulting on its debt. the bill passed the house on wednesday ter t republican majority changed its stance. republicans said they would not approve the bill unless the government made more cuts to social programs. republicans had public criticism that th
as well. the euro i trading higher and that's being quoted at 120.77 to 79 against the yen. now to stocks. a weaker yen is prompti ining inverinver investors to buy. let's take a look at other markets in the asia pacific region. the kospi is trading lower by half a percent. in australia the benchmark index is trading higher by .4 of a percent. german chancellor expressed concern. her remarks suggest that japan's efforts could be regarded as a deliberate attempt to devalue its currency. she stated that g-20 discussions are focusin on pitical manipulation. she added she's not completely without concern at the moment about japan. the abe administration decided to work together for strong monetary easing measures to get out of deflation. the german leader warned that governmented should not break banks by putting pressure on them. some economists approve of the policies as necessary to pull japan out of prolong stagnation. u.s. president barack obama has picked mary joe white to head the securities and exchanges commission. obama made the announcement on thursday. he said the sec played a cri
? >> a lot of things have changed. it has affected the move in davos. a year ago, skepticism about the euro. today, people are happy with what they see. things have improved. there are reasons for that. it is not just a mood swing. there are a least cordial good reasons -- four good reasons. the countries in the south have made real adjustments. exports are growing. the fiscal deficits are getting smaller. that is adjustment of the national level nationthat is necessary. we have much tougher rules on how to coordinate our government policies. there was criticism about the design of the union in europe that monetary policies are the centralized. achilleas if we have coordination. that is better now that used to be. -- that can only work if we have coordination. that is much better now the is to be paid capital has gone up for most banks. we're supporting countries through the imf. there is restructuring in greece and portugal. we have a special program in spain. we have closed some situational gaps in the design of the union. we created the bailout fund. they are doing more things about omt.
.47 to 50. the euro/yen is also lower. that pair at 121.71 to 74. many market players are on the sidelines waiting for the release of u.s. gdp and jobs data later in the week. the kospi trading higher by .4 of a%. 1,948 and in australia the benchmark index is trading higher 4,873 this tuesday morning. the u.s. agriculture chief has welcomed japan's easing of impact restrictions on its country's beef. it gives u.s. cow farmers a bigger steake in the market. they decided to allow imports of meat from american cattle aged 30 months or younger. the current limit is 20 months or younger and was set seven years ago to provent risks of bsc or mad cow disease. the u.s. will continue working on eliminating trade bar yours for high quality and safe u.s. food and agriculture products. the u.s. will keep trying to expend its exports. ron kirk called the decision a significant and historic step in expanding the american beef trade with japan and along with it exports and jobs. that's the latest in business for this hour. here is a check on markets. >>> thousands of refugees have been landing in recent
. the calculations are based on an exchange rate of 85 yen to the dollar and 115 yen to the euro. the japanese currency has been weaker than that lately, so this would be considered a cautious outlook. executive vice president toshizo tanaka added he expects the global situation to improve later this year. >> translator: we hope that economic measures introduced by the u.s. and china will help fuel consumption in the latter half of the year. >>> south korean export verse dramatically increased their global market share the recent years with you the tide seems to be turning. a search in the value of the yuan is one reason. >> reporter: weak yuan has provided a strong foundation for exporters but the good times may be coming to an end. is the won has risen against the yen 30% since last june. the currency is fluctuating between 1,100 to 1,200 per 100 yen. the won continued to rise against the dollar. last month, the korea automotive research institute released a report called the recent weakening of the yen and its effects on the car industry. th hyundai motor group is south korea's largest carm
numbers and determine how the u.s. economy is doing. euro/yen 104.7 to 50. >>> japanese workers may have a few more yen in their pockets if union leaders get their way. labor and business leaders are discussing a proposed wage hike. >> translator: a wage increase is a way to ending deflation. it's time for businesses to invest in human resources and not cut corners with workers earnings. >> koga asked for an increase of wages much 1%. he said raises based on seniority should continue. the leader of the business federation opposed the union's demand. he said labor leaders are ignoring the reality of today's business climate. >> translator: this year workers and managers need to share a sense of crisis. we need to have constructive discussion. it's critical for us to do so, to ensure businesses survive and grow. people need stable employment. >> he said the current economic situation leaves no room for raising wages across the board. he said struggling firms may be forced to postpone or even cut regular raises. >>> manufacturers have long been seen as leaders of japanese industry, but a ne
in early asian trading. dollar-yen at 88.80-84. the euro is also gaining against the yen. the european currency is now down at 117.74. that's going to do it for biz tonight. let's get a check now of the markets. >>> the eastern u.s. is seeing warm temperatures, but changes in the forecast. meteorologist robert spet that has the latest. >> yes, gene. all across the eastern seaboard we have just been seeing absolutely temperatures above average. it's all due to this frontal area here. ahead of it you are seeing this warm air come in from the south. that's really been raising up these temperatures. but, yeah, things are going to start to change, because as that pushes off there towards the east, bringing heavy rainfall towards the northeast, the western great lakes will see a mix of freezing rain across this region, very dangerous for driving. but behind it, see this cold front here? that is really what's going to be the big changer. this is already bringing some snowfall in this region, upwards of 15 centimeters across much of the dakotas is going to be expected. widespread winter storm
of the evidence we have euro yen quoted at 114.90. moving on to stocks. let's check on europe first where shares are open and trading at this hour. we're seeing them slightly lower as you can see there. investors a bit cautious ahead of the release of the u.s. jobs report for december which is due out later on friday. london's ftse 100 down a fraction. declines as well for frankfurt about .2%. paris market down about .4%. did see a mixed day for asia, though. tokyo's nikkei jumped to its highest level since march 2011. it was up, in fact, nearly 3% on the back of a weaker yen. japanese business leaders commented on the country's economic outlook for this year. >> translator: i believe the yen will continue to weaken for some time, and the real economy is likely to improve, at least through middle of this year. that includes a recovery in exports. >> translator: led by the united states, overseas economies are picking up strength, demand from outside japan is increasing steadily. the japanese economy is likely to follow a recovery path support in part by needs created by restoration projects in t
of japan would take further monetary easing measures. the yen came under pressure against the euro on friday, the currency rose to the 114 yen level. that's more than 14 yen higher than when the year started. analysts predict the yen's decline is likely to continue for some time. investors are now focusing their attention on what japan's central bank will do when it's policy making panel meets next month. now let's check on the stock markets in other parts of the world. european stocks are trading in a tight range, investors are keeping an eye on the ongoing u.s. budget talks. london's ftse 100 is trading at 5945. in frankfurt the dax is down about .4 percent at 7625. in paris the index there is down about.8% trading at 3644. earlier in the day asia stocks were higher almost across the board. today was the last trading day the year in many markets. south korean shares ended 0 high pressure 49% higher. mainland china stocks rose touching higher levels in more than six months. the hang seng closed at its peak for 2012. here in japan business leaders have urged prime minister shinzo a
are seeing a bit of strengthening right now. 88.79 for dollar/yen. euro/yen is looking at 118.55. >>> on to stocks, asian stocks mixed. nikkei down 0.4%. investors got a clearer picture of the boj's monetary policy. in terms of active trading at this time, european stocks looking to the downside right now. investors are cautious ahead of the release of bellwether u.s. corporate earnings on the day. london down a fraction. paris's cac 40 losing about 0.25% at this time. >>> shipment of flat screen televisions showed the steepest decline last month. they say 6.5 million units were shipped in 2012. that's down 67% from the year before. it was the second straight year-on-year decline. many japanese consumers bought flat screen tvs ahead of the switch over to digital broadcasting. sales have declined since then, leading to a drop if shipments. they say tv makers must develop new features or services to stimulate fresh demand. >>> that is going to wrap it up for biz tonight. let's check in now on the markets. >>> u.s. diplomats are trying to punish north korea for firing off a rocke
testing also fueled geo political concerns. the euro is strong at 119.46. >>> the japanese government has finalized a guideline for compiling next year's budget. it is designed to keep new bond issues to a minute mum. members of the cabinet and the council of economic and fiscal policy approved the plan. the proposal for the fiscal year that starts in april includes the government's latest economic stimulus. priority is put on cutting wasteful spending and also requires the budget to focus on two key areas, that's reconstruction work from the 2011 disaster and sectors with sustainable or promising growth. now the guidelines urge a 50% reduction in the primary balance deficit by fiscal 2015. that's aimed at clearing a milestone towards counter fiscal health. the governor will decide its draft budget on tuesday next week. >>> japan's ruling coalition parties have been talking about tax as the basis for the new budget. they have agreed to introduce a new tax break for supporting the poor when the consumption tax doubles in 2015. the agreement is part of a tax reform plan for fiscal 2013, whi
provided little market direction. dollar/yen at 88.29. we're seeing the euro is weaker against the yen. euyou're 0/yen at 117.79. >>> the labor union for japan's regional government workers is calling for the withdrawal of the central government's plan to reduce tax grants. the state government wants to cut local tax grants from fiscal 2013 starting this april. it's partly designed to slash regional government workers' wages by an average of 7.8%. the chairman of the all-japan precede tech furl and municipal workers union told reporters wednesday the plan is unacceptable. >> translator: this one-sided policy that the state is going to implement unilaterally has been drafted by skipping all the labor management negotiations. >> tokanaba said local governments are striving to cut workers to deal with the shortage of funds even though they're faced with more tasks in the their everyday work. he said they include social security issues and environmental protection measures. tokanaga added some municipalities have even pressed ahead with their own wage cuts. >>> that is going to do it for b
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